Franklin Resources Inc. lifted its stake in shares of General Dynamics Corporation (NYSE:GD) by 1.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,786,244 shares of the aerospace company’s stock after acquiring an additional 71,287 shares during the period. Franklin Resources Inc. owned approximately 1.26% of General Dynamics Corporation worth $750,055,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Ruggie Capital Group bought a new stake in shares of General Dynamics Corporation during the first quarter worth $119,000. Zions Bancorporation increased its position in shares of General Dynamics Corporation by 0.5% during the first quarter. Zions Bancorporation now owns 732 shares of the aerospace company’s stock worth $137,000 after acquiring an additional 4 shares in the last quarter. Global X Management Co. LLC increased its position in shares of General Dynamics Corporation by 59.8% during the first quarter. Global X Management Co. LLC now owns 759 shares of the aerospace company’s stock worth $142,000 after acquiring an additional 284 shares in the last quarter. Central Bank & Trust Co. increased its position in shares of General Dynamics Corporation by 5.7% during the second quarter. Central Bank & Trust Co. now owns 922 shares of the aerospace company’s stock worth $183,000 after acquiring an additional 50 shares in the last quarter. Finally, First Command Bank increased its position in shares of General Dynamics Corporation by 31.3% during the second quarter. First Command Bank now owns 952 shares of the aerospace company’s stock worth $189,000 after acquiring an additional 227 shares in the last quarter. 86.18% of the stock is owned by institutional investors.

Several equities research analysts have recently issued reports on the stock. ValuEngine raised shares of General Dynamics Corporation from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Jefferies Group LLC reissued a “buy” rating on shares of General Dynamics Corporation in a research report on Friday, August 11th. Citigroup Inc. reissued a “neutral” rating and set a $210.00 price objective (up previously from $207.00) on shares of General Dynamics Corporation in a research report on Friday, August 11th. BidaskClub raised shares of General Dynamics Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, August 8th. Finally, Morgan Stanley assumed coverage on shares of General Dynamics Corporation in a research report on Tuesday, August 8th. They set an “underweight” rating and a $185.00 price objective for the company. Two research analysts have rated the stock with a sell rating, four have given a hold rating and eleven have assigned a buy rating to the company’s stock. General Dynamics Corporation has an average rating of “Buy” and a consensus target price of $206.59.

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General Dynamics Corporation (NYSE GD) opened at 205.41 on Monday. The company has a market cap of $61.58 billion, a P/E ratio of 20.29 and a beta of 0.71. The company has a 50-day moving average of $199.30 and a 200-day moving average of $196.51. General Dynamics Corporation has a 52-week low of $148.76 and a 52-week high of $206.57.

General Dynamics Corporation (NYSE:GD) last announced its quarterly earnings results on Wednesday, July 26th. The aerospace company reported $2.45 EPS for the quarter, beating the Zacks’ consensus estimate of $2.43 by $0.02. General Dynamics Corporation had a net margin of 9.63% and a return on equity of 28.17%. The business had revenue of $7.68 billion during the quarter, compared to analyst estimates of $7.76 billion. During the same quarter in the previous year, the business posted $2.30 EPS. General Dynamics Corporation’s quarterly revenue was down 1.3% on a year-over-year basis. On average, equities research analysts expect that General Dynamics Corporation will post $9.80 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, November 10th. Stockholders of record on Friday, October 6th will be paid a $0.84 dividend. The ex-dividend date is Thursday, October 5th. This represents a $3.36 annualized dividend and a dividend yield of 1.64%. General Dynamics Corporation’s payout ratio is 34.57%.

About General Dynamics Corporation

General Dynamics Corporation is a global aerospace and defense company. The Company offers a portfolio of products and services in business aviation; combat vehicles, weapons systems and munitions; information technology (IT) services and C4ISR (command, control, communications, computers, intelligence, surveillance and reconnaissance) solutions, and shipbuilding and ship repair.

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Institutional Ownership by Quarter for General Dynamics Corporation (NYSE:GD)

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